Banking litigation in the CEMAC zone
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The primary mission of the law is to eradicate conflict in society, or at least to mitigate it. In keeping with this logic, CEMAC legislators are relentless in their efforts to avoid social conflicts, particularly banking disputes, but practice is different. To this end, dispute resolution has become an urgent necessity. Through the mechanisms put in place by the legislator, as soon as a dispute arises, two avenues of resolution are open to the parties to the dispute: the extrajudicial route and the judicial route. With regard to the out-of-court settlement of banking disputes, CEMAC law recog...
The primary mission of the law is to eradicate conflict in society, or at least to mitigate it. In keeping with this logic, CEMAC legislators are relentless in their efforts to avoid social conflicts, particularly banking disputes, but practice is different. To this end, dispute resolution has become an urgent necessity. Through the mechanisms put in place by the legislator, as soon as a dispute arises, two avenues of resolution are open to the parties to the dispute: the extrajudicial route and the judicial route. With regard to the out-of-court settlement of banking disputes, CEMAC law recognizes only banking arbitration and banking mediation, as the other alternative dispute resolution methods are ill-suited to the particularities of the banking sector. It should be noted that private justice is liberal, less costly, rapid and confidential, but remains fragile because enforcement of the award or mediation agreement is only effective through the intervention of the judge.
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